Probability Management for Water Finance and Resource Managers
Water resource and finance decisions always involve some level of uncertainty. This webcast presented the findings of Probability Management for Water Finance and Resource Managers (4742). This practical approach offers improved ways to quantify and communicate uncertainty. Webcast attendees will learn:
p>Tom Chesnutt introduced the basic principles and tools of probability management as a new discipline that provides the mean for calculating uncertainty. These have been formalized into a cross-industry cross-platform standard (SIPmath™ v2 standards, established by ProbabilityManagement.org). Michael Hollis spoke on long-term water demand uncertainty and common problems within water utilities when attempting to confront uncertainty. Eric Akiyoshi discussed the importance of uncertainty in water infrastructure decisions and specifically to probability management embedded in land use-based demand forecasts to inform distribution system infrastructure investment timing. Shayne Kavanagh spoke to applications of probability management within a mid-size water utility to quantify revenue uncertainty and reserve requirements for catastrophic risks.
om Chesnutt, Ph.D., PStat®, CAP®, President, A & N Technical Services, Inc.
ichael Hollis, Ph.D., PStat®, Senior Resource Specialist, Metropolitan Water District of Southern California
ric Akiyoshi, PE, Engineering Manager - Planning and GIS, Irvine Ranch Water District
hayne Kavanagh, Senior Manager of Research, Government Finance Officers Association
aureen Hodgins, Research Project Manager, The Water Research Foundation